Two pieces of positive news this morning: 1) Wal-Mart sales better than expected and raising guidance, and 2) Dow Chemicalspacer buying Rohm and Haas. Jobless claims lower than expected is also a help.

Dow Chemical, which earlier Thursday announced a deal to acquire Rohm and Haas for $18.8 billion, has early indication from credit ratings agency Moody's that its debt will remain investment grade following the deal, said Chief Executive Andrew Liveris on Thursday.

Stock markets around the world have been weaker recently as they struggle with the implications of global inflation. Asian markets in particular are worried; Asian currencies have been weak on inflation concerns.

Dow Chemical, the biggest U.S. chemicals manufacturer, said Tuesday it will raise prices for its products by as much as 25 percent, institute freight surcharges and cut back on output of some products because of soaring energy prices.

U.S. stock index futures pointed to a lower open for Wall Street Tuesday -- the first day of the two-day Federal Reserve interest-rate meeting -- after package-delivery company UPS said after the bell Monday its profit would miss market expectations.

James Rogers sees a tough summer ahead for the American consumer. The chairman, president and CEO of Duke Energy says the spike in energy prices has already brought about profound changes in consumers' lives.